The Faculty of Economics and Business is one of the 110 faculty members at Universitas Negeri Padang (UNP). Its establishment was marked by the UNP Rector’s Decree Number 05/J4/KP/2005, dated January 2, 2005, which authorized the opening of the Faculty of Economics with four study programs: Economics Education, Management, Accounting, and Development Economics. Additionally, the faculty offers one postgraduate (S-2) program, namely, a master’s in management.  This decree was issued by the rector with the approval of the Directorate General of Higher Education, Department of National Education, as per DIKTI Decree number 2816/D/T/2004, dated July 22, 2004. The Faculty of Economics and Business is an extension of the Economics Department of the Faculty of Social Sciences at UNP. Although it is the youngest faculty member at that time, it cannot be disassociated from the history of UNP itself. UNP was established as a result of the conversion of IKIP Padang into a university, originally known as Teacher Education College (PTPG).

The Economic Education Study Program is the oldest program established by the decree of the Minister of Education and Culture of the Republic of Indonesia 38742/Kab.1954, issued on September 1, 1954. Later, in line with the Decree of the Director General of DIKTI No. 1499/D/1996, dated June 20, 1996, and the Presidential Decree of the Republic of Indonesia No. 93, dated August 4, 1999, IKIP Padang received a wider mandate and hence became a university. Consequently, the Faculty of Economics opened a non-educational study program, the Management Study Program, established based on the Decree of the Minister of Education and Culture of the Republic of Indonesia No. 203/Dikti/1999, issued on May 6, 1999. The development economics and accounting study programs were subsequently opened based on the Decree of the Minister of Education and Culture of the Republic of Indonesia No. 2542/D/T/2001, dated August 2, 2001.

The Faculty of Economics and Business recognizes the community’s need for further education and, in response, has established three post-graduate programs. These include the Master of Management Study Program, established based on the Directorate General of Higher Education Decree, 2596/D/T/2001, dated August 6, 2001. The Master of Economics Study Program was granted permission for its implementation by the Directorate General of Higher Education through Decree number 843/D/T/2008, dated March 13, 2008. Lastly, the Master of Economic Education Study Program is based on the Decree of the Directorate General of Higher Education number 210/E/O/2012, dated June 5, 2012.

 The Faculty of Economics and Business has expanded its educational offerings by introducing vocational-based programs (Diploma III) in Accounting and Trade Management in 2009, with establishment permits granted by the Directorate General of Higher Education via Decree number 987/D/T/2009 dated June 18, 2009. In 2016, the faculty further diversified its Vocational Study Programs by adding the DIII Tax Management program, which the Directorate General of Higher Education authorized via Decree number 26/KPT/I/2016, dated January 20, 2016.

The UNP Faculty of Economics and Business has two doctoral study programs: the Doctoral Study Program in Environmental and Development Studies and the Doctoral Study Program in Management Science. The Environmental and Development Studies Doctoral Study Program received permission for its implementation from the Directorate General of Higher Education with Decree number 298/KPT/I/2016 dated August 31, 2016. The Management Science Study Program (S3) of the Faculty of Economics and Business, UNP, has been carrying out operational activities since 2021 based on the Decree of the UNP Rector Number: 3848/UN35/EP/2021 dated October 1, 2021.

The Faculty of Economics officially changed to the  Faculty of Economics and Business on June 5, 2023, through Rector’s Decree 524/UN.34/OT/2023 concerning the Change of the Name of the Faculty of Economics to the Faculty of Economics and Business. The Faculty of Economics and Business is also supported by several supporting units, namely computer laboratory, ADP laboratory, Business Incubator laboratory, Business Simulation laboratory, ERP laboratory, Development Planning laboratory, Economic and Environmental Science Modeling laboratory, Digital Business laboratory, Investment Gallery, MSME Center, Tax Center, Internal Quality Assurance Unit, Teacher Education Center (PPG), Accounting Education Center (PPA) and Podcast Studio.